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Australian Retail Sales Rise 1.0%;
Analysts Look to Possible Rate Cut

By

Iain McDonald Dow Jones Newswires

Updated Aug. 31, 2001 7:36 a.m. ET

CANBERRA, Australia -- Consumers continued to spend in July, but many analysts expect the Reserve Bank of Australia will cut interest rates next week to offset the negative effects of a weakening global economy.

Retail sales rose a seasonally adjusted 1.0% in July after a 1.2% rise in June. Analysts on average had expected a flat monthly...